Advanta offer...

You are 90 days late so I wouldn't worry yet. I would let it go closer to 120 days and see what you can save up during that time. Realistically you should be able to settle for 50% or less. Do you owe any other creditors? If so you can tell Advanta later on that you have X amount of money and that's it or you will use it for another creditor.

Also don't worry about them receiving the agreed upon payment by 12/01/2008 or the settlement agreement will be null and void as they aren't really offering you anything to jump at right now.

You can also search the boards and see what others have settled with them.

I got a 10% settlement on a $22,000 Advanta debt that was nine months past due. It came with an alternative, a summons I received a few days after the settlement offer. Needless to say, I took the settlement. Had to be paid in two installments, three weeks apart. This was a business account.

I just listened to a voice mail left on Friday that mentioned litigation over this account of mine. Why would they give some 9 months and say it to me after only 3? I have talked to people there just not this one lady and she said I had to call and talk to HER to get something resolved. What do you all think?

Oh, they MENTIONED litigation all along, probably starting after just 3-4 months. It just took nine months for them to finally follow through on it. I constantly got letters about "sending my account to the litigation department for review." There were some god-awful collectors along the way, I think from their own collection department too, that harassed my elderly parents (with whom I have not lived for over 25 years) and used threats and questionable tactics. The account seemed to pass from one group to another, all within their own company. Some were nicer, some were jerks, some were just bizarre. In the end, the people I dealt with for the actual settlement were very nice.

Advanta stopped funding my small Business credit (card) and now I am only making payments... I don't feel it's fair to pay the interest rate as I no longer have the benefits of borrowing...and I have a 22K balance. What are my options for settlements?

I posted a while back that Advanta agreed to 0 percent interest on 20K.
I went through CCCS and have not heard a peep for Advanta.
I have been forking over $400 a month and at this rate it will go away soon I hope. Anyways it was "free" money.:rolleyes:

I can help to settle debts at approximatley 55 cents on the dollar. email me for more info. deleted...pm

sorry no solicitation allowed.